Retail investors have changed the fundamental paradigm of stock trading. While recession fears and concern over waning demand sent global stocks crashing, the energy sector has ripped through the roof. It all looks like retail investors seem to be buying the dip in energy stocks. There is no doubt that energy is still the only S&P 500 sector in the green this year up more than 30 percent. But the industry is more than 20% below the multiyear high it hit on June 8. The downturn follows a related decline in oil prices. In 2022, Occidental Petroleum Corporation (NYSE: OXY) remains the most-sought after stock, at $190.7 million worth of shares. Berkshire Hathaway owns $10 billion of preferred stock and 83.9 million warrants and Warren Buffett is close to making Occidental Petroleum a 20% position.
Exxon Mobil Corp (NYSE: XOM) and Devon Energy Corp (NYSE: DVN) followed at $177.3 million and $65.6 million, respectively.
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